Word: plummetted
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...Last year was retail’s worst yet, and the Wall Street Journal reported that high end retailers like Saks have resorted to slashing prices to combat sluggish sales. Still, Saks saw January sales plummet by 24 perecent. Neiman Marcus is expecting a previously unheard-of quarterly loss for the holiday shopping period...
...must call a general election by September, and one could come as early as April. But as his approval ratings plummet, speculation is increasing that he will be forced to step down soon. "There's no optimistic short-term scenario for Japan," says Curtis. "The economy will get worse. Politics will get worse. That's the cruel reality of Japan today." And that means Aso's support rating can only get worse. "It's too late for Aso to turn it around," Curtis says. "He'll lose a point a week and by early March he'll be down...
...Analysts say Toyota may need to reduce output even more as sales in the U.S. market, where the company generates half its earnings, continue to plummet. In the last three months of 2008, the U.S. economy shrank at its fastest rate in 26 years; consumer spending fell 3.5% after dropping 3.8% in the third quarter...
...reduce the value of those debts according to what similar pools of loans are worth. This is known as mark-to-market accounting. And when investors grow increasingly nervous that borrowers will not pay back their debts, as they are now, the bonds on which those loans are based plummet in value, even before payments stop coming in. As a result, banks are watching their capital bases erode much faster than their executives ever expected - and probably faster than they can handle...
Brandeis's decision to sell its art collection in order to make ends meet is all too indicative of the larger problems facing universities as donations dry up and endowments plummet in this dismal economic climate. On average, university endowments have dropped 23 percent in only five months...